Microsoft is making its financial services cloud solution generally available on 1 November. Known as Microsoft Cloud for Financial Service, it is designed to provide a faster pathway to modernise core banking services, develop deep analytics and enable new ways to reach customers. Public preview of the offering arrived on 31 March.
The solution will provide a unified customer profile, self-service onboarding, customer experience and engagement tools, plus collaboration management. From a security front, it will offer risk assurance and support, regulatory compliance assessments, alongside account and purchase protection.
“The pandemic cemented the value of digitisation and digital channels in the financial services industry -- and created new expectations with customers and employees,” said Bill Borden, Microsoft’s corporate vice president of worldwide financial services.
“In talking with our customers every day, financial services organisations have increased focus on how to accelerate their digital agendas to better serve their clients and empower employees, while at the same time continuing to reduce the costs of running their businesses.”
Borden added that customers, therefore, need cloud services tailored to their specific needs and challenges. As well as financial services, the vendor also has other industry-specific services, Microsoft Cloud for Manufacturing and Microsoft Cloud for Nonprofit, which are still in public preview.